Amedisys Announces Acquisition of SpectraCare Home Health Services
10 Agosto 2005 - 11:55PM
PR Newswire (US)
BATON ROUGE, La., Aug. 10 /PRNewswire-FirstCall/ -- Amedisys, Inc.
(Nasdaq: "AMED" or the "Company"), one of America's leading home
health nursing companies, today announced that it has closed on its
acquisition of the home health assets of Louisville, Kentucky-based
SpectraCare Home Health Services, Inc., including eight locations
in Ohio, Indiana and the Certificate of Need (C.O.N.) states of
Kentucky and Tennessee. The agencies are expected to contribute
approximately $17 million in annualized revenues and $0.05 to $0.07
cents to earnings in 2006, though the Company does not expect the
acquisition to contribute materially to earnings in 2005. "We are
excited to further expand our presence in the key states of
Indiana, Kentucky, and Tennessee, as well as gain a presence in
Ohio," stated William F. Borne, Chief Executive Officer of
Amedisys, Inc. "We continue to see a number of similar acquisition
opportunities available, and maintain our intention to selectively
acquire companies, especially within C.O.N. states, that fit our
acquisition profile," concluded Mr. Borne. The purchase price of
this most recent acquisition included $13 million in cash, of which
$2 million will be placed in escrow for up to two years, and
$750,000 is contingent upon the achievement of certain milestones.
Amedisys, Inc., a leading provider of home health nursing services,
is headquartered in Baton Rouge, Louisiana. Its common stock trades
on The Nasdaq Stock Market under the symbol "AMED". This press
release includes statements that may constitute "forward-looking"
statements, usually containing the words "believe," "estimate,"
"project," "expect" or similar expressions. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such
differences include, but are not limited to, continued acceptance
of the Company's services in the marketplace, competitive factors,
changes in government reimbursement procedures, dependence upon
third-party vendors, and other risks discussed in the Company's
periodic filings with the Securities and Exchange Commission. By
making these forward-looking statements, the Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release. Additional information on the
Company can be found on the World Wide Web http://www.amedisys.com/
Contact: Amedisys, Inc. Gregory H. Browne Chief Financial Officer
(225) 292-2031 Noonan Russo Investor Relations Brian Ritchie (212)
845-4269 DATASOURCE: Amedisys, Inc. CONTACT: Gregory H. Browne,
Chief Financial Officer, Amedisys, Inc., +1-225-292-2031, ; Brian
Ritchie, Noonan Russo, Investor Relations, +1-212-845-4269, Web
site: http://www.amedisys.com/
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